SBI associate bank shares on fire

Shares of SBI’s associate banks were on fire with two of them hitting new 52-week highs. All the three associate banks witnessed huge trading volume in the light of expected amendments to banking regulations today.

However, the shares of the parent bank itself remained subdued making only marginal gain minutes before the markets was to close today.

The biggest gainer was State Bank of Mysore which gained Rs 104 or 17.45 per cent to trade at Rs 699.95 with a trading volume of 2.24 lakh shares. The stock had hit a fresh 52-week high of Rs 715 before easing a bit.

State Bank of Bikaner and Jaipur was another SBI associate to touch a yearly high today with the stock moving up to Rs 492.75 before falling to Rs 468.40, a gain of Rs 55.25 or 13.37 per cent. The counter recorded a trading volume of 10.92 lakh shares.

State Bank of Travancore jumped to Rs 618.50, a gain of Rs 76.90 or 14.20 per cent and it saw a trading volume of 6.72 lakh shares.

However, SBI itself remained largely unmoved and gained just Rs 4.85 to move to Rs 2,321.05 on the NSE.

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